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Jan 8, 2018

ADVFN Weekly Cryptocurrency News

ADVFN Cryptocurrency News


Cryptocurrency Weekly News 8 January 2018

It seems every week I used the word “roller-coaster” when talking about the Bitcoin price! Just before Christmas, it reached an all-time high of $19,530, then just before the end of the year it fell back down to $11,985. Anyone watching the price movements closely is at risk of suffering whiplash!

 

Here’s a chart of the last month showing the ups and downs:

 

Bitcoin chart

 

This morning the price reached $16,184, and at the time of writing it has fallen back to $14,708.

 

ADVFN’s Cryptocurrency page gives you prices for Bitcoin and altcoins

 

London Block Exchange has analysed the Bitcoin price rise in 2017 and concluded it’s not as wild as we think. Read their fascinating report here

Meanwhile, Bitcoin and altcoins may be on the back foot but Ethereum is surging to a new high. It was trading at over $1,8000 in South Korea earlier today. Read about it on ccn.com

And Dogecoin, a joke coin inspired by a popular internet meme, surged over the weekend and now has a market cap over $2 billion. Read about it on Business Insider

 

 

Other Cryptocurrency News

You may have read about two computer vulnerabilities that have recently come to light, called Meltdown and Spectre. These take advantage of security flaws in the chips in most computers, and could allow bad guys to steal private data – including your passwords for cryptocurrency wallets and exchanges. Google have written a summary of what you need to know, which you can read here

 

Surging demand in cryptocurrencies is causing problems for exchanges which cannot cope with the volume, and several have put a hold on new users setting up accounts so they can continue to service existing customers until they can scale up. Cointelegraph.com has the story

 

The US government seized a stash of Bitcoin and Bitcoin cash from a dark web dealer called Aaron Michael Shamo, and now it plans to sell the coins. A federal judge in Utah has given approval for the 512 Bitcoins and 512 Bitcoin Cash to be auctioned off. Read the details on ccn.com

 

There continue to be high-profile nay-sayers who are convinced that Bitcoin is a bubble and it will all end in tears. Dennis Gartman, the so-called “commodities king”, is one such no-coiner. He has said he expects the Bitcoin price to fall to $5,000 and then crater, because it has no intrinsic value. Read what he said on ccn.com

 

Similarly, the Chinese People’s Daily also says that Bitcoin is a bubble and compares the cryptocurrency to 17th-century tulip mania. Read the comments on ccn.com

 

A different kind of nay-sayer is Egypt’s foremost imam, who has declared that Bitcoin are forbidden under Islamic law. He has issued a fatwa (a ruling of Islamic law issued by a recognised authority) that bans selling, buying or lending cryptocurrencies because they “cause harm to individuals, groups and institutions.” Read the story on ccn.com

 

An employee of a UK-registered cryptocurrency exchange was kidnapped in Ukraine, and has now been released after a ransom of more than $1m dollars in Bitcoin was paid. Read the story on The Guardian

 

Microsoft’s customer support has confirmed that the company is no longer accepting Bitcoin as a payment option – and hasn’t since last July.  Read the story on ccn.com

 

One of the attractive features of cryptocurrencies is the anonymity afforded to individuals who exchange the digital coins. However, that may not last, according to a cryptocurrency expert, who thinks that as technology develops in the future, the cryptography that underpins the blockchain systems may turn out not to be uncrackable. Read the story on Business Insider

 

And a final bit of gloominess: cryptocurrencies have now become so expensive that they are preventing innovation, says an article on Tech Crunch. Read it here

 

Happy new year!

 

 

The Crypto Trader

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New Book on Cryptocurrencies out now
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Trading Cryptocurrencies: A Beginner’s Guide - Bitcoin, Ethereum, Litecoin is an invaluable guide to making money in cryptocurrencies: how they work, how to invest in them, trading cryptocoins, mining, and the technical details behind them.

 

Trading Cryptocurrencies book

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CME Bitcoin Futures

ADVFN (LSE:AFN) is now offering free CME Bitcoin Futures data to its four million registered users.

Anyone visiting the ADVFN site can obtain quotes, view charts and access real-time news for CME Bitcoin Futures here. Users can add these contracts to their portfolios and see bid, offer, highs, lows and current prices along with traded volumes. They can also view them on their monitor pages alongside their other investments.

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